History was made this week as BSE Sensex made another all-time high crossing the 37,000 level on the way. Recovery in SmallCap and MidCap stocks came as a relief to investors. HDFC AMC IPO was the other hot topic of the week - the issue was 83 times oversubscribed beating all market estimates. This further signifies the overall positive outlook for Mutual Fund Industry in India.
What worked best?
It was a positive week for Equity Markets. BSE Sensex and NIFTY went up by 2.30% and 2.44% respectively over the week. Smallcap and Midcap Indexes outperformed the large-cap indexes as Bse Smallcap was up by 4.64% and BSE Midcap was up by 4.71%.
| Index | Weekly opening | Weekly close | Increase/Decrease |
| BSE Sensex | 36,496.37 | 37,336.85 | 2.30% |
| Nifty | 11,010.20 | 11,278.35 | 2.44% |
| BSE Smallcap | 15,721.43 | 16,450.20 | 4.64% |
| BSE Midcap | 15,196.46 | 15,912.62 | 4.71% |
Source- BSE/NSE
Top 5 Best Performing Funds Last Week:
| Name | Week | 1Y Return | 3Y Return | Sub-Category |
| HSBC INFRASTRUCTURE EQUITY GROWTH DIRECT PLAN | 7.3% | -12.1% | 1.4% | Sectoral/Thematic |
| HDFC INFRASTRUCTURE GROWTH DIRECT PLAN | 6.9% | -16.3% | 1.5% | Sectoral/Thematic |
| RELIANCE POWER AND INFRA GROWTH DIRECT PLAN | 6.3% | -3.9% | 9.3% | Sectoral/Thematic |
| RELIANCE TAX SAVER GROWTH DIRECT PLAN | 6.0% | -7.3% | 6.6% | ELSS |
| ICICI PRUDENTIAL NIFTY NEXT 50 INDEX GROWTH DIRECT PLAN | 5.9% | 5.0% | 13.1% | Index Funds |
Source – Kuvera.in
What investors bought?
We saw the most inflows last week in these 5 schemes –
| Fund | 1Y return | 3Y return | Sub-category |
| L&T EMERGING BUSINESSES GROWTH DIRECT PLAN | 6.8% | 13.9% | Small Cap Fund |
| AXIS FOCUSED 25 GROWTH DIRECT PLAN | 23.3% | 17.8% | Focused Fund |
| KOTAK STANDARD MULTICAP GROWTH DIRECT PLAN | 10.0% | 14.4% | Multi-Cap Fund |
| HDFC SMALL CAP GROWTH DIRECT PLAN | 17.1% | 19.9% | Small Cap Fund |
| AXIS ARBITRAGE GROWTH DIRECT PLAN | 6.8% | 6.9% | Arbitrage Fund |
Source – Kuvera.in
Movers and shakers at Fund House:
1. Invesco announced that its India Liquid fund will now be co-managed by Krishna Cheemalapati and Abhishek Bandiwdekar.
2. DSP BlackRock Mutual Fund announced Mr Gopal Agrawal’s appointment to the post of Senior Fund Manager and Head, Macro Strategy.
In other news:
1. Much awaited, HDFC AMC’s IPO was a great success as the issue was oversubscribed by 83 times.
2. SENSEX reached an all-time high during the week and crossed the 37,000 mark for the first time. The index ended the week at 37,336.85
3. Reports emerged that Samco Securities and Equity Intelligence India have applied with SEBI (Securities and Exchange Board of India) for license to launch their own Mutual Fund businesses.
Quote of the week
“Invest for the long-term.” – Lou Simpson
Manvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform. He is on a mission to make wealth management accessible to all. He is passionate about Mutual funds, Equity Markets and Technical analysis.
Gaurav Rastogi is the CEO of Kuvera.in: a free direct mutual fund investing platform. Gaurav managed a pan-Asia quantitative portfolio for Morgan Stanley before he started Kuvera.
First Published: IST